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Government Plans to Collect 786 million GEL from Profits Tax in 2019

Government of Georgia plans to collect 786 million GEL in profits tax in 2019. According to estimations, in 2019 profits tax will be fulfilled in excess and the figure will exceed 720 million GEL.

This forecast also includes a growth in profits tax of BP (from construction of a new oil pipeline) and the effect from amendments to the tax code (exemption of LEPLs and non-commercial legal entities from profits tax).

According to the 2019 budget bill, forecast indicator of VAT is 4 482 million GEL;

According to the forecasts, the 2018 VAT will be fulfilled in excess and the figure will exceed 4.5 billion GEL. The 2019 VAT fulfilment forecasts are based on the mentioned indicator and the 2019 nominal economic growth, as well as on prognosis for 10% imports growth.